Fib level trade by STROBOT

Sometimes STRobot does really amazing trades check out this FIB level trade where he took an entry from he 23.6 to the 38.2 and closed at target

Look at the way STRobot set up the trade you can see he’s thinking about the shorts for quite a while before the entry happened and his target was perfect for 134 pips profit.

http://www.strobot.rocks

 

GBPAUD SignalTrader Divergence

Overnight the GPBAUD pair railed up against my trade. Right now it is returning back down from whence it came.

As you can see from this daily chart, the SignalTrader Massive (that’s the bottom indicator) is showing divergence where the price has been going up but BOTH AUD and GBP are falling. This NORMALLY results in a reversal of price, so the price will fall and be drawn to the downside by both pairs falling. At present GBP has become weaker than AUD we’re just waiting for the break.

My AUDNZD is sitting 103 pips profit 20 pips to target in a short opened 5 days ago.

http://www.strobot.co.uk

The truth about trading systems.

Forex trading is complicated.

The amount of people who offer the latest “incredible system” probably belie the difficulty that traders face.

1. When are you going to place a trade?
2. What are your targets/stops?
3. When do you abort a trade?
4. What conditions or rules do you have about staying in or getting out?

The best plan you can have is actually to pick a trading style and system that suits your temperament. If you know other’s ask your friends. The truth is that the big rally trades, the fast, make 100 pips in 3 seconds trades are rare. Most trades that make that sort of pips take at least 3 to 5 days in current market climates.

When you have picked your trading system WORK WITH IT FOR 1 YEAR. You need to learn how to deal with it in all kinds of trading environments. Sometimes the markets are flat, there is low participation so it is much harder to trade, the market won’t commit.

The best way to fail with the Forex is never to have a system. I have met a few traders who upon losing a lot of money said they went on “gut-instinct” as a system, gut-instinct is really the biggest killer in the forex.

If you have set up a trade correclty and you are following your system and it starts going against you, only pull out if you have NON-EMOTIONAL reasons to do so. If the pair has moved south when you were in a long, look for the reasons for this. If it is someone making a speech the chances are it will return to price.

I’m sitting here now with 118 pips profit in 3 trades, one losing -5 pips and the others winning 78 pips and 44 pips. One trade has been on 6 days, another 24 hours and the last one just went on. All of these are “strobot” trades.

Getting to this point has been very painful. You have the realisation that the markets are hard to trade. That everyone has losing streaks and when you hit a winning streak you must understand what you are doing right.

http://www.iwanttobeaforextrader.com

GBPCHF a demonstration of the 200 period Daily MA #forex #fxtalk

SignalTrader Trading Systems Robot uses the 200 period Daily MA to confirm direction of trade along with the daily trend. The two combined is powerful, in fact it trades WITH the 200MA/Daily trend and also when there is divergence it looks for gold reversal signals  by comparing currency strengths.

Now – ofcourse the robot does not trade any GBP trades because GBP is too volatile and difficult to trade without large stops, when GBP squares up it often doesn’t go half way back, but the whole way back.

Just check this out, the thick white line is the 200 period daily Simple Moving Average, look at how it acts like a floor for the pair, ofcourse SignalTrader plots the daily MA on the 15 minute chart ( you can’t do this normally with MT4).

So here is the daily chart, now sterling has bounced off of the 200MA if I was interested in trading it this would be a good place, however as the target is too small at 53 pips I will stay out.

Here is the 15 minute chart, you can see the daily 200MA plotted here

 

Look at the gold signal early on in the chart and the dotted white line that is where ST said it would bounce, then it has hit the 200MA daily SMA  and guess what both of them have been too much for it!

Now – the thing here to remember is that GBP is a difficult trade at the best of times but it does show just how powerful this point can be.

The temptation to take a long manual SignalTrader trade may get the better of me but at the moment I’m just letting Strobot trade.

http://www.iwanttobeaforextrader.com

 

 

 

SignalTrader Trading System Video Thursday

Latest update now uses RSI for congestion.

Daily Trading Video demonstrating new congestion detection. http://www.iwanttobeaforextrader.com

GBPUSD Short (now long?!) – DailyForexTrader SignalTrader Trading Video

When your software is better than you at working out the trades!

Well Update 3. GBPCAD 60 odd pips profit and GBPUSD small profit. SignalTrader Trading system 2, Me, 0.

Update

Looks like Sterling is going up in the last 1/2 hour i have BUY orders, buy DIAMOND and a buy trend. Looks like any second we are going to reach for the stars. This is why we place “entry orders” only on our trades, they can change before they take!

 

 

Original Post

http://www.iwanttobeaforextrader.com

Live Trading Demonstration tonight LIMITED PLACES please email paul.clevett@dailyforextrader.me if you would like to attend.

EURCAD Buy potential trade

Ok Good potential trade EURCAD this morning. Plus new SilverTrader feature, check out SilverTrader at http://www.iwanttobeaforextrader.com

Trading update

Slow, very slow.

Trading 19th December 2013

Good morning all on a cold and frosty UK morning.

FOMC last night was the usual explosion. Anyway – SilverTrader DID correctly predict a buy but unfortunately it was just impossible to trade due to the fact the market moved so fast!

I also discovered that my customers were placing their trades far too close to the congestion so I have built in a new “red box” that is a NO FLY ZONE for trades to make sure they don’t get caught out.

Here’s a sample

So here is today’s trading video.

TRADING UPDATES (CHECK BACK FOR MORE!)

Look at the potential profit from this USDJPY sell if it happens, retracing back from last nights FOMC – thanks to SilverTrader my sell order is in a safe place, close enough to catch the fire, but far enough away to be safe.

Possible buy GBPUSD

 

Interesting….. forex trading today.

Normally non-cross pairs (for beginners thats those that have USD in them) tend to move pretty much in the same direction as the dollar. But this morning GBPUSD is rallying whilst NZDUSD is bearish. I closed of my profitable SELL GBPUSD trades today there is GBP news coming in with Mark Carney joining the Bank of England. I’m listening to LBC 97.3 talk radio and they are discussing it.

I don’t think there will be any change in GBP interest rates on Thursday after what I’ve heard today but there are a lot of good feelings about this new BOE. USDJPY buy I’m in 65 pips this morning hoping to see if we hit the magic 100!

We have had two 3 white candle signals one after the other on the 5 minute chart but I have been in this trade for a few days.

NZDUSD is one of my more frustrating trade as it’s bullish and I have 2 bearish trades on 🙁 I just need a good bit of USD news to send it hurtling into profit as it is hanging around the same sort of price.

If you have any questions or comments like “Paul, you’re a prat USDJPY is gonna fall” that’s great. Please leave it in the comments box or in the questions comments page. Don’t forget to sign up for membership, I’ve got some exciting things on the way to help your trading.